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Crossways Commerce Center

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Colliers is pleased to announce the sale of Crossways Commerce Center IV, at 1408 Stephanie Way in the Greenbrier submarket of Chesapeake.  The property was sold by DSC Partners to The Runnymede Corporation. 

The multi-tenant building, built in 1998 on a 3.99-acre site, comprises 52,056 square feet and was 100% leased at the time of the sale. The  building is anchored by Leidos, a Fortune 500 information technology, engineering, and science solutions and services company headquartered in Reston, Va. Leidos currently occupies 91% of the building with the balance of the building leased to 7-Eleven for its regional corporate office.

“Runnymede is pleased to acquire this institutionally maintained asset in the growing Greenbriar submarket,” said Donald J. Frederick, vice president and CEO. “Hampton Roads' reliance on the defense sector together with the long-term history of Leidos in the building fit Runnymede’s investment criteria. This well-located asset just blocks from the blooming Dollar Tree corporate campus adds synergy to Runnymede holdings in the park. We value our relationship with Colliers and want to thank Scott, Perry, Michael and the entire Colliers team for making this transaction smooth from start to finish.”
 
J. Scott Adams, president of Colliers Virginia & Raleigh, NC, and Michael Ettel, senior associate with the Colliers Capital Market Advisory team, represented the seller in the transaction in association with Perry Frazer, Pat Mugler and Ricky Anderson with Colliers.
 
 

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Scott Adams

Executive Managing Director, Virginia & Raleigh

Norfolk - Main

J. Scott Adams, CCIM, has over 27 years’ experience in the commercial real estate industry as an investment sales broker, corporate leader, project manager, and consultant.  Since 1993, Mr. Adams has led the negotiation and sale closings of $1.7 Billion of investment sales of office, office/flex, and industrial properties, primarily in the Virginia markets of Hampton Roads, Richmond, and Charlottesville. He has consistently been recognized as a top regional dealmaker and trusted adviser for institutional and local owners. Mr. Adams remains an active investment sales broker in addition to his corporate leadership responsibilities.

As President of Colliers I Virginia, Mr. Adams is primarily responsible for leading the Colliers International brokerage and asset services teams to be the top performer throughout Southeast and Central Virginia. Mr. Adams has leadership responsibilities for all regional corporate support functions in that region as well. Beginning fall 2020, Mr. Adams will also have leadership oversight for the Raleigh, NC market. 

Prior to Colliers International, Mr. Adams was President for CBRE’s Mid-South Region Affiliate Offices (including offices in Virginia and throughout North Carolina) as well as a Senior Consultant with Kenneth Leventhal & Company (now part of EY) in their Washington, D.C. office. 

Mr. Adams is also actively involved in serving the military veteran community as well as for real estate initiatives at the University of Virginia. 

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Persifor Frazer

Executive Vice President

Norfolk - Main

Executive Vice President and Principal, Perry Frazer has over 22 years of commercial real estate experience. Perry was named the Managing Director of the Hampton Roads office in 2014. As Managing Director, Perry manages all aspects of local business to generate and maintain maximum profitability. The emphasis is on integration of a variety of service lines for new business development and growing market share. Perry guides real estate managers, sales professionals, and the office manager in client relations, service orientation and consulting role as well as the effective and efficient operation of its office and accounts.

He has been a top ten regional producer every year since 2002 and over the past 15 years Perry has leased approximately 20 million square feet in the Hampton Roads market. Perry represents institutional Landlords in the Hampton Roads markets and has established himself as one of the leading office and flex brokers in the region. He has completed numerous large tenant representation assignments over the past five years.
 
Perry has earned the distinction as one of the leading brokers in Hampton Roads and one of the leading brokers in the entire Hampton Roads organization.

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Pat Mugler

Executive Vice President

Norfolk - Main

Pat Mugler has over 28 years’ experience in the commercial real estate industry as a broker. As an Executive Vice President and Principal in the Virginia offices, Pat has successfully closed  millions of square feet of lease transactions and participated in numerous institutional and local sales transactions as well. Mr. Mugler has twice been awarded the prestigious “Hunter A. Hogan Award”, for being the region’s highest producing broker.
 
Mr. Mugler serves as the Director of Brokerage Asset Services for office, flex and industrial leasing teams and has extensive experience across all product types including select land and retail assignments.  
 
In addition to extensive relationships with many of the region’s top landlords, Mr. Mugler has long-term tenant relationships with an impressive list of corporations including Maersk, PRA, Cox Communications, Canon Computers, LabCorp, Pitney Bowes, Morgan Stanley, Verizon, and many more Fortune 500 companies.

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Ricky Anderson

Executive Vice President

Norfolk - Main

Ricky Anderson joined Colliers International in May of 2007 as a commercial agent and quickly became an integral part of the brokerage team representing owners and occupiers of office and industrial properties. Since 2007, Ricky has negotiated over 450 transactions valued at over $130 million. Clients have included defense contractors, REITS, national corporations, medical practices, and local businesses and developers.

A lifelong Virginia Beach native, Ricky graduation from Virginia Tech with a degree in business finance. Ricky currently resides in Virginia beach with his wife and two daughters.

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